( 1 ) THIS Application is by GSL (India) Limited.

( 2 ) THIS Judges summons has been taken out by GSL (India) Limited in Company Petition No. 295 of 1996 to make an order under Section 442 of the Companies Act and to stay further proceedings pending in the various Metropolitan Magistrate Courts, on complaints lodged by its creditor under Section 138 of the Negotiable Instruments Act because the cheques drawn by the company for paying its outstanding have been returned by the bank unpaid either because of the amount standing to the credit of its account was insufficient to honour the cheque or that it exceeded the amount arranged to be paid from the account by an agreement made with the bank. The application has been made because Company Petition No. 295 of 1996 as well as various other company petitions for the winding up of the applicant company have been presented before this court and are pending for final decision. The list of other winding up petitions pending in this court have been annexed to the judges summons as Annexure-`c.

( 3 ) THE application for stay of the proceedings under Section 138 of the Negotiable Instruments Act pending decision of the winding peti